We were instructed to manage the marketing and sale of these neighbouring HMO's (house of multiple occupation) in Eltham on behalf of a local construction company during the 4th quarter of 2016.
The properties comprise 19 newly refurbished, self-contained bedsit units located above ground floor retail units, fully let and producing c. £160,000 per annum.
Whilst typically high yielding, HMO investments can prove a challenge to sell- often as a result of high compliance requirements and a tougher lending criteria, our investment team had little trouble locating a buyer and following a high profile marketing campaign and a series of block viewings ultimately concluded a deal at £1,600,000 to a private family fund on their 3rd HMO purchase for the year!
In early 2017 we were then drafted back into the fray to manage the disposal of the ground floor retail units at 13 & 14. We marketed the properties again and after circulating them to our database (now number in excess of 10,000 applicants), we achieved a sale price in excess of client's expectations at £400,000. The purchaser in this instance was a private local investor who by his own admission was prepared to pay a premium to secure the properties and their strong returns as his money 'was doing nothing in the bank'.
As a result of interest rates resting at an all-time low we have been met with increasing demand for property investments not only from experienced property investors but also new parties entering the commercial investment market looking to find a stable, long term home for their money. Our team is extremely well versed in property investment sales of all types so should you need advice on how best to maximise the value of your asset please get in touch.
PROJECT ADDRESS: 13,14 & 16 Well Hall Parade, Eltham, London SE9 6SP
CLIENT: Private Landlord
PROJECT VALUE: £2,000,000
PROJECT DATE: September 2016 - February 2017